Is Jack Ma's Alibaba even worth anything?
There is no known capitalist market in which a mass merchandizer with no inventories, no stores, no warehouses, no patents, no state monopoly, and virtually no fixed assets whatsoever is worth $230 billion. Indeed, BABA has virtually no working capital and the only assets visible on its balance sheet are cash, $300 million worth of un-depreciated computer software and equipment and $6 billion of intangibles and advances spread among the archipelago of entities that comprise the house which Jack (Ma) built.
http://www.zerohedge.com/news/2014-09-22/they-do-ring-bell-top-alibaba-proves-wall-street-its-rocker
I guess we'll soon find out.
No comments:
Post a Comment